March 11, 2020 / 10:28 AM / a month ago

BRIEF-Adidas sees 50-70 mln euro sales hit if Olympics, Euro postponed

March 11 (Reuters) - Adidas AG:

* ADIDAS CEO SAYS DOES NOT EXPECT MUCH CATCH-UP BUYING IN CHINA POST-CORONAVIRUS

* ADIDAS CEO NO PLANS TO CUT JOBS BECAUSE OF CORONAVIRUS, CONTINUING TO INVEST

* ADIDAS CFO SAYS WILL NOT BECOME LOSS-MAKING IN Q1, NOTES HAS NEVER HAD STRONGER BALANCE SHEET, CASH POSITION

* ADIDAS CFO SAYS SEE SPILLOVER FROM CORONAVIRUS IN EUROPE BUT TOO EARLY TO GIVE GUIDANCE ON IMPACT

* ADIDAS CEO SAYS IF OLYMPICS OR EURO 2020 POSTPONED, THIS COULD HAVE 50-70 MLN EUROS IMPACT ON REVENUE

* ADIDAS CEO SEES TRAFFIC SLOWDOWN IN STORES IN EUROPE, NOTABLY IN ITALY, BUT NOT YET BUSINESS IMPACT

* ADIDAS CEO SAYS WILL CONTINUE WITH SHARE BUYBACKS Further company coverage: (Reporting by Frankfurt Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below